One of the highest property sales in Fremantle for a long time has been completed with the $ 38 million sale of the Collie Street carpark in the city centre.
The uninspiring building was built in 2003.
My mate Saff Ali is one of Fremantle’s newest real estate agents, so if you want to buy or sell a property contact him at Smarchoice!
Saff and his colleague drove by as I was photographing the Atwell Arcade, so had to take a quick snap of the cute little car.
Ali is a lovely guy and also a very good photographer. He is the one in the foreground.
Good news for Fremantle developers and apartment owners! According to independent analysts PropertyESP the Freo apartment market has remained steady.
While the spike in sales was in 2013, Fremantle, especially North Fremantle, remained consistent, according to the analysts, however North Coogee median prices dropped significantly from $ 1.3 million to only $ 600,000 between 2010-2015. But North Fremantle median prices rose from $ 1 million in 2010 to $ 1.3 million in 2015.
It is believed the fact that many Fremantle apartments have river or ocean views, or both, and are close to the beaches is the reason for Freo’s popularity.
This sits pretty well with the City of Fremantle’s policy to attract more people living and working in the centre of the city.
Part of the scaffolding on the Heirloom by Match development of the former Dalgety Woolstore has been removed at Beach Street and I think it looks very impressive so far.
The development will see over 150 new residential apartments in the east CBD of Fremantle and together with other planned new buildings will see a substantial increase of inner city residents in the next few years, which will be a much-needed boost for the retail and hospitality economy.
Apartments at heirloom sell from $ 495,000 and there are still some for sale, so if you want inner city living in a heritage environment with sweeping views over Fremantle Port, go and check it out.
The development is a joined venture by the Match group and Sirona Capital.
The West Australian today compares, in an ‘exclusive’, council rates in the Perth metro area, and the good news is that Fremantle is only at number 13 of the 29 councils.
The average residential rates in 2015-2016 in Fremantle were $ 1,647.78 and in East Fremantle, that is number 10 on the list $ 1,810.65.
Melville is 17th with $ 1,599.16 and Cockburn comes in as 25th with just $ 1,460.07.
As West reporter Kate Emery rightly points out rates are affected by house prices and it is difficult to compare council rates because councils use different ways of calculating rates.
Latest figures by REIWA, the Real Estate Institute of Western Australia, show that median house prices in North Fremantle have dropped by a whopping 25,6 per cent over the last 12 months, while prices in South Fremantle went up by 13 per cent.
I wonder what the reasons for that might be.
A report by REIWA says that South Fremantle has outshone all other Perth suburbs in April in the residential home market with an 8.2 per cent rise of the median sales price there.
So it’s not all bad news for Fremantle. I suggest a bit of patience will go a long way as Freo will blossom and shine within the next 2-5 years! There is a lot of residential, commercial and tourist development going on and in the pipeline and that will attract new retailers and visitors to our city.
Life is like the weather, it sometimes rains, but it often shines!
The M/27 residential apartment and commercial heritage development of the former Energy Museum at Parry Street is now open to start selling apartments, so if you want to live the Freo lifestyle close to Clancy’s, the tennis and bowling clubs and the St Patrick’s Basilica, check out the website: http://www.m27apartments.com
Forty boutique apartments will be built starting from $ 450.000.
The development will be done by the MATCH group who are at present developing Heirloom, the former Dalgety Woolstores site just around the corner at Queen Victoria Street.
It is exciting to see so much development in the east of the CBD that has been floundering for far too many years.
and for the cynics among my readers, this is not an advertorial and I don’t get a cent paid to publish this and I also have not been promised a free apartment, or one at a reduced price. I simply like to support what goes on in Freo.
I don’t know at al what limited apartments look like, so can only speculate. Is this one of those new Fremantle developments that does not require car bays for its new residents and will only supply bike racks?
Or are the apartments without a bathroom or kitchen or just very very tiny, or maybe limited means only affordable to those who have a lot of money to invest.
English language no easy, hey. I photographed the sign in Pakenham Street, corner Nairn.